Bridge Financing

OVERVIEW

Ready Capital provides short-term, non-recourse bridge and mezzanine loans nationwide on transitional, value-add and event-driven commercial and multifamily real estate. We lend up to $45 million (larger for select assets and portfolios) for middle-market and institutional commercial real estate sponsors, and larger on a case-by-case basis.

We provide floating and fixed rate terms to five years for multifamily, office, retail, industrial, mixed-use, self-storage, student housing, hospitality, residential and commercial condo, and specialty use properties. We consider the full range of value add strategies and deliver structured finance solutions backed by experienced bridge lending professionals.

Check out our most recent transactions and client testimonials:

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$6,600,000
Purchase
Bridge
Office
3 Year Term
Greenwood, IN
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$22,600,000
Refinance and Stabilization
Bridge
Mixed Use
4 Year Term
Charlotte, NC
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$13,900,000
Rate/Term Refinance
Bridge
Retail
3 Year Term
Santa Monica, CA
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$4,700,000
Purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
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$6,200,000
Purchase
Fixed rate
Retail
2 Year Term
Sacramento, CA
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$2,600,000
Rate/Term Refinance
Bridge
Retail
5 Year Term
Jacksonville, FL
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$16,200,000
Purchase
Bridge
Various Property Types - Portfolio
3 Year Term
Los Angeles, CA
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$7,500,000
Purchase
Bridge
Multifamily
3 Year Term
Houston, TX
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$11,900,000
Purchase
Fixed rate
Student Housing
3 Year Term
Normal & Champaign, IL
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$10,200,000
Purchase
Bridge
Multifamily
5 Year Term
West Valley City , UT
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$20,100,000
Purchase
Fixed rate
Mixed Use
7 Year Term
Costa Mesa, CA
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$7,950,000
Purchase
Bridge
Retail
3 Year Term
Miami, FL
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$25,800,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$38,900,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio, TX
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$7,900,000
Purchase
Bridge
Retail
3 Year Term
Miami (Wynwood), FL
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$28,300,000
Purchase
Bridge
Multifamily
3 Year Term
Houston , TX
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$14,500,000
Purchase
Bridge
Multifamily
3 Year Term
Portland , OR
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$7,860,000
Purchase
Bridge
Multifamily
3 Year Term
Freeport, TX
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$5,590,000
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Houston, TX
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$4,930,000
Purchase
Bridge
Retail
3 Year Term
Miami, FL
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$11,960,000
Purchase
Bridge
Office
3 Year Term
Charlotte, NC
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$8,400,000
Purchase
Bridge
Retail
3 Year Term
Charlotte, NC
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$8,900,000
Purchase
Bridge
Multifamily
2 years Year Term
Tampa, FL
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$7,570,000
Purchase
Bridge
Industrial
3 Year Term
Charlotte, NC
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$33,325,000
Rate/Term Refinance
Bridge
Office
3 Year Term
Chicago, IL
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$8,240,000
Rate/Term Refinance
Bridge
Mixed Use
3 Year Term
Los Angeles , CA
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$12,760,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$16,360,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$25,070,000
Purchase
Bridge
Mixed Use
3 Year Term
Denver, CO
$5,000,000
purchase
Bridge
Retail
2 Year Term
Los Angeles, CA
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$5,500,000
purchase
Bridge
Multifamily
3 Year Term
New York, NY
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$7,848,475
Rate/Term Refinance
Bridge
Office
3 Year Term
Chicago, IL
$1,520,361
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Philadelphia, PA
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$2,585,000
Purchase
Bridge
Multifamily
2 Year Term
Decatur, GA
$1,350,000
Purchase
Bridge
Multifamily
Year Term
Minneapolis, MN
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$4,700,000
Purchase
Bridge
Multifamily
2 Year Term
Houston, TX
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$13,400,000
Purchase
Bridge
Industrial
3 Year Term
Tampa, FL
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$1,730,000
Purchase
Bridge
Multifamily
1 Year Term
Bridgeport, CT
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$3,400,000
Purchase
Bridge
Multifamily
3 Year Term
Houston, TX
$1,350,000
Purchase
Bridge
Multifamily
1 Year Term
Panama City, FL
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$3,100,000
Cash-Out Refinance
Bridge
Retail
2 Year Term
Baltimore, MD
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$2,765,000
Purchase
Bridge
Industrial
2 Year Term
San Antonio, TX
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$2,150,000
Purchase
Bridge
Multifamily
2 Year Term
Athens, GA
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$2,677,000
Purchase
Bridge
Multifamily
2 Year Term
Fort Lauderdale, FL
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$7,936,500
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Various, TX
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$8,800,000
Purchase
Bridge
Multifamily
3 Year Term
Largo, FL
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$28,800,000
Rate/Term Finance
Bridge
Mixed Use
3 Year Term
New York, NY
$2,720,000
purchase
Bridge
Multifamily
1 Year Term
Golden, CO
$12,140,000
Cash-Out Refinance
Bridge
Mixed Use
2 Year Term
Bronx, NY
$8,930,000
Rate/Term Refinance
Bridge
Retail
3 Year Term
Livonia, MI
$8,000,000
purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
$4,818,750
purchase
Bridge
Office
3 Year Term
Tustin, CA
$4,700,000
purchase
Bridge
Office
3 Year Term
Houston, TX
$2,435,500
purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
$6,150,000
purchase
Bridge
Multifamily
3 Year Term
Charlotte, NC
$10,420,000
purchase
Bridge
Office
3 Year Term
Atlanta, GA
$11,500,000
purchase
Bridge
Office
2 Year Term
Miami, FL
$2,888,500
purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
$4,058,900
purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
$6,000,000
purchase
Bridge
Mixed Use
2 Year Term
New York, NY
CRITERIA

PRODUCT OVERVIEW

  • Transitional, value-add and event-driven real estate opportunities
  • Highly structured loan solutions
  • Financing customized to borrower business plan
  • Loan size: up to 80% of project cost, 85% senior stretch deal specific
  • Term: floating rate up to five years including extensions
  • Prepayment: minimum interest
  • Future Funding: Capex, TI/LC, earnouts, interest and operating reserves
  • Fixed and fixed/floating hybrid loan solutions
CONTACT

Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact bridgecre@readycapital.com.

National Bridge Originations Team:
National Loan Originations Team:
Strategic Partnership Team:
Ready Capital Corporation Reaches $2 Billion In SBA Loan Approvals Through The Paycheck Protection Program
07/27/2018

NEW YORK, April 15, 2020 /PRNewswire/ — Ready Capital Corporation (NYSE: RC) announced today that the Company’s national Small Business Administration (SBA) lender, ReadyCap Lending, LLC, has obtained SBA approvals to fund in excess of $2 billion loans through the U.S. Small Business Administration’s Paycheck Protection Program (“PPP Program”). Through the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), the initiative calls for existing SBA lenders to extend loans to small business to cover payroll, occupancy and operating expenses through the PPP Program. Furthermore, the PPP Program includes a 100% guarantee from the federal government for loans up to $10 million and principal forgiveness for borrowers if the funds are used primarily for retaining employees. Ready Capital, through its front-end technology embedded in its iBusiness Funding platform, helps small businesses by lending, not only to its existing clients, but also new applicants. Ready Capital started taking applications the first week of April and began funding of the PPP Program on Monday, April 13th. The Company will continue to fund approved loans over the upcoming weeks and is accepting applications at ppp.readycapital.com.

Thomas Capasse, Chairman and Chief Executive Officer said, “Ready Capital has fully dedicated its resources towards helping small businesses obtain this much needed capital to assist with difficulties due to COVID-19. We are proud to support our clients, who are the lifeblood of our business, and proud to be able to support all small business applicants, who are the lifeblood of this country. The government has done their part to make these funds available and it is our responsibility to get the funds into the hands of people who need it most. We estimate our efforts to date, will help to fund the payroll of approximately 200,000 individuals across the country.”

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs over 400 lending professionals nationwide. The Company is externally managed and advised by Waterfall Asset Management, LLC.

Contact

Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com

Cision View original content:http://www.prnewswire.com/news-releases/ready-capital-corporation-reaches-2-billion-in-sba-loan-approvals-through-the-paycheck-protection-program-301040719.html

SOURCE Ready Capital Corporation

CAREERS

Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Find out what job positions are open in your area.

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